Induced Preferences, Non Additive Probabilities and Multiple Priors.

We study a decision-maker who follows the Savage axioms. We show that if s(he) is able to take unobservable actions which influence the probabilities of outcomes then it can appear to an outsider as if his/her subjective probabilities are non-additive. Implications for multi-period decisions are explored.

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Year of publication:	1996
Authors:	Kelsey, D. ; Milne, F.
Institutions:	Department of Economics, University of Birmingham
Subject:	RISK \| STATISTICS \| UNCERTAINTY \| RISK AVERSION

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Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	30 pages
Classification:	D80 - Information and Uncertainty. General ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; D89 - Information and Uncertainty. Other
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005738229